VIF Information Alerts - 6 August 2019

China changes tack, calls J&K ‘Indian’ State
Published: The Pioneer

06 Aug 2019

In an indication of the shifting geopolitical dynamics in the region, the South China Morning Post, a Chinese state media, posted an article on August 1 referring to Ladakh as part of the "Indian State of Jammu &Kashmir" instead of its earlier stance of mentioning J&K as a "disputed territory between India and Pakistan." The Chinese move assumes significance as Ladakh is also referred to as "Little Tibet" due to the local inhabitants following Tibetan BuddhismClick here to read... [2]

US labels China a currency manipulator, escalating trade war
Published: The Economic Times

06 Aug 2019

The Trump administration formally labeled China a currency manipulator, further escalating its trade war with Beijing after the country’s central bank allowed the yuan to fall in retaliation for new US tariffs. While the US Treasury Department’s determination is largely symbolic, as the potential punishments are a shadow of the steps Trump has already taken against China, it underscores the rapidly deteriorating relationship between the world’s two largest economies.Click here to read... [3]

Australia says it won't host US mid-range missile site, Australia
Published: The Straits Times

06 Aug 2019

Australian officials confirmed yesterday that the country will not be used as a base for any planned United States mid-range missiles, following talks with American officials in Sydney. US Defence Secretary Mark Esper said in meetings at the weekend that he wanted to deploy intermediate-range conventional missiles at various Asia-Pacific sites within months.Click here to read... [4]

Down, not out Islamic State has US$300 million war chest to plot world terror
Published: South China Morning Post

06 Aug 2019

Islamic State has been left with as much as US$300 million after the loss of its so-called “caliphate” in Iraq and Syria, “with none of the financial demands of controlling territory and population,” Secretary-General António Guterres said in a report. The report to the Security Council on the threat posed by Isis warns that the lull in attacks directed by the militant group “may be temporary”.Click here to read... [5]

Exiting FATF grey list vital for IMF deal
Published: The Express Tribune

06 Aug 2019

ISLAMABAD: An exit from the grey list of the Financial Action Task Force is critical for the stability of the financial system and securing private sector credit to meet external financing needs, International Monetary Fund Resident Representative Teresa Daban says.
“Failure to exit from the FATF grey list is a risk to the recently approved $6 billion IMF deal,” said Daban while speaking at an event arranged by former The Express Tribune executive editor Mohammad Ziauddin at the National Press Club on Monday.Click here to read... [6]